FCA Proposes Lifting Ban on Retail Crypto ETNs to Boost UK’s Digital Asset Market
The Financial Conduct Authority (FCA) has proposed lifting its existing ban on offering crypto exchange traded notes (cETNs) to retail investors in a move it says would support UK growth and competitiveness.
Crypto ETNs are investment products that enable consumers to invest in cryptocurrencies, without buying or storing the crypto themselves. These notes hold the same value as a nominated cryptocurrency, meaning users can invest in them without dealing with crypto wallets, passwords, or exchanges.
Should the FCA proposals come into action, crypto ETNs could be sold to individual consumers in the UK, rather than just professional investors, so long as they are traded on an FCA-approved investment exchange.
David Geale, executive director…
